CG Power launches QIP at Rs 679.08 per share to raise funds:

News Topical, Digital Desk : CG Power and Industrial Solutions on Monday said that the company has started the process of raising funds through Qualified Institutional Placement ( QIP) at a price of Rs 679.08 per share after the approval of its shareholders . The Securities Issue Committee of the company approved the opening of this issue in its meeting held today (30 June). Along with this, the documents and application form required for QIP were also approved. The ' relevant date ' for this issue has been fixed as 30 June 2025. The company is also allowed to give a maximum discount of 5 percent on this fixed price, as per SEBI rules. This fund will be used in the company's development plans and business expansion.

The company said in an exchange filing , "June 30 , 2025: The company today informed that its Securities Issue Committee in its meeting has passed several important resolutions, which are made pursuant to the approval given by the Board of the Company on October 21 , 2024 and the special resolution passed by the shareholders on December 18, 2024. The company said the Qualified Institutional Placement ( QIP) issue has been approved to open from June 30, 2025. The floor price has been fixed at ₹679.08 per equity share , which is based on the pricing formula determined as per SEBI ICDR Regulations .

Stock Performance

The company's stock closed at Rs 681.10 on Monday with a gain of 1.32 percent. In the last one year, the company's stock has seen a decline of 5.61 percent.